Nebula Research & Development LLC Invests $2.05 Million in Target Co. (NYSE:TGT)

Nebula Research & Development LLC acquired a new position in Target Co. (NYSE:TGT) in the 4th quarter, HoldingsChannel reports. The fund acquired 15,158 shares of the retailer’s stock, valued at approximately $2,049,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital World Investors raised its position in shares of Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. FMR LLC raised its holdings in Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after acquiring an additional 1,358,348 shares during the period. Geode Capital Management LLC lifted its position in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock worth $1,332,317,000 after acquiring an additional 470,990 shares in the last quarter. Norges Bank bought a new stake in shares of Target during the 4th quarter valued at $757,892,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Target by 21.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,823,264 shares of the retailer’s stock worth $652,014,000 after purchasing an additional 840,484 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of Target stock opened at $95.32 on Friday. The firm has a market cap of $43.43 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company’s fifty day simple moving average is $106.25 and its two-hundred day simple moving average is $128.31. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. As a group, equities analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 50.56%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TGT. UBS Group decreased their price target on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. DA Davidson reduced their target price on Target from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Piper Sandler lowered their price target on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Cfra Research downgraded Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Baird R W downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $132.37.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.